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Indian E-Commerce Behemoth Flipkart Plans Web3 And Metaverse Expansion

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Flipkart, which is backed by Walmart, has announced the launch of its in-house innovation unit called Flipkart Labs. According to a statement by the company, Flipkart Labs will be focused on testing nonfungible tokens (NFTs), virtual immersive storefronts and play-to-earn features.

According to Naren Ravula, VP and Head of product strategy and deployment at Flipkart Labs,

“We are in the early days of a paradigm shift from Web2.0 to Web3.0 and this evolution of the web/internet built on the concepts of decentralisation, openness, and greater user utility will have a profound impact across many areas including e-commerce,"

https://www.bloomberg.com/news/articles/2022-04-28/walmart-backed-flipkart-to-test-web-3-0-metaverse-expansion

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